So you're telling me that the "tax man's screw up" was the only raise they've gotten in 10 years? How close have you followed the real estate values in this region over the past 6 years or so. The tax value on my home has increased 61% in that time frame. So, that would equate to a 61% "raise" without the city raising the "rates" one dime.
Now that property values are falling, they're not running around and dropping the tax values back to where they were. Oh no, if they did that they would RAISE THE RATES. But guess what, they didn't have any problems at all taking in all the revenues they collected when the values shot up.
Also, apparently you don't understand the reason most employers would even consider asking you to take a pay cut. This measure is typically considered as a means to not eliminate any positions. Basically, everyone feels a little pinch but no one get's their head put in the noose.
Now the last part, your kind of thinking is what is going to cause inflation to be the next kick in the pants. If everyone raises their prices then the amount of money spent will be reduced even further. If you reduce the revenue flow then manufacturing must cut back and guess what, higher unemployment and a further drain on our already bankrupt city thus this article.

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